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This is Bob Larson with the Market Line Report for Friday, February 9th. USDA is out with its latest grain report. From the Allendale trading desk with a look at the wheat numbers, here’s Rich Nelson.

NELSON ... “And as far as wheat, USDA did raise the wheat ending-stock estimate from 989-million bushels to 1.009-million bushels. This increase was a little higher than the average trade estimate, but not too far out of line. And, as far as these moves, USDA made them by raising food use by 5-million tons and, at the same time, lowering exports by 25-million tons. Allendale would suggest that that lower export number is certainly very realistic. On the world side, USDA did make some moderate changes across the board as many producers, Argentina’s wheat crop for instance, up a half-million tons, but not too many changes on the production side beyond that, but a lot of changes we’re seeing on the export numbers.”

Chicago March Wheat prices closed yesterday dn 4 ¼ at 456 ½

March corn was up ½ at 364 ¾

Portland prices for soft white wheat of Ordinary Protein for February ended the day unch ranging from 5-30 to 5-50 Hard Red Winter wheat with 11 ½ % protein, prices for February were dn 6 ½ ranging from 6-19 ½ to 6-39 ½ DNS wheat with 14 % protein, prices for February were up ¾ ranging from 7-28 to 7-43

Live Cattle for February were up $.17 ½ at 125.80 March Feeder cattle are dn $1.05 to 147.37 ½ February Class III milk was dn .13 cents at 13.47